In August 2024, the global aluminium industry experienced notable fluctuations in pricing, reflecting a complex interplay of market dynamics and economic factors.

On April 13, the US and the UK announced new trading restrictions on Russian aluminum, copper and nickel.

The U.S. Producer Price Index (PPI) in October saw its largest drop since April 2020, suggesting easing inflationary pressures.

Macro trends show weakening US data, persistent Eurozone recessionary pressures, sluggish overseas economies amid high interest rates, a fluctuating high-level US dollar index, and pressured commodities.

The most-traded SHFE 2308 aluminum contract opened at 17,975 yuan/mt overnight, and closed at 17,995 yuan/mt, down 45 yuan/mt or 0.25%. LME aluminum opened at $2,227.5/mt on Wednesday, with its low and high at $2,201/mt and $2,249/mt respectively before closing at $2,247/mt, up $19/mt or 0.58%.

SHANGHAI, Jul 4 (SMM) –There was a surprise drop in US initial jobless claims, and resilient Q1 GDP suggests a strong economy, turning the market hawkish.

SHANGHAI, Jun 19 (SMM) – The most-traded SHFE 2307 aluminium contract opened at 18,650 yuan/mt at last Friday’s session, and closed at 18,665 yuan/mt, with its low of 18,540 yuan/mt, up 35 yuan/mt or 0.19%.

Aluminium ingot: Aluminium ingot inventory across China’s eight major markets stood at 520,000 mt as of June 15, down 33,000 mt from a week ago and 265,000 mt from a year ago.

The most-traded SHFE aluminium contract experienced volatility in the period of May 12-June 12, with its monthly low and high at 17,455 yuan/mt and 18,535 yuan/mt respectively.

SHANGHAI, Jun 13 (SMM) – Macro: US non-farm payrolls showed mixed performance in May.